Bloomberry Reports Annual Results

Bloomberry Resorts the Philippine casino operator announced its 4^th quarter results showing a healthy increase from PHP129.3 million in the fourth quarter of 2020 to PHP1.9 billion (US$36.4 million) before interest, taxation, depreciation and amortisation (EBITDA)  in the last quarter of 2021.

The casino operator runs the Solaire Resort and Casino in Manila and is due to open their second resort in the second half of 2023 and also operates a South Korean casino but is currently closed.

Gross Gaming Revenues for Q4 of 2021 hit PHP8.0 billion that is a rise of 50% compared to the same period a year ago and was helped by the easing of restrictions on capacity due to COVID regulations.

For the full year Bloomberry reports full net revenues of PHP22.0 billion for 2021 which is a rise of 23.8% on the previous year’s revenues and consolidated EBITDA rose by 264.6% to PHP5.2 billion for 2021 compared the 2020, however the company reported a net loss of PHP4.2 billion for the year but was an improvement on the previous year which stood at PHP8.3 billion.